The bulls are trying to bounce today, and they absolutely had to, if they were going to keep this market bounce going.

However, the 20-day moving average is still providing resistance, as of this post.

Should that MA clear, I think the bulls have a clear path back to the highs gain. The price action of the lat two days, suggests the bears are flirting with the idea of turning this market back down again. Late day selling, leaves chart technicians, such as myself, quite concerned. But the sell-off is on low volume, and that could be a clue that the bulls are simply resting after a six day rally, and not giving up.

Now, if the bears do regain control of this market, and send stock much lower, here are the short setups that you'll want to keep a close eye on:

Again, the dip was bought up right away this morning.

There is some resistance with the Fibonacci 61.8% retracement and the underside of resistance in the short-term. However, if these two minor obstacles can be cleared, it should pave the way for a retest of new all-time highs, once again.